Beijing is putting pressure on Washington to revoke unilateral tariffs as the United States and China prepare for critical trade negotiations this weekend.
China’s Commerce Ministry spokesman He Yadong stressed during a Thursday briefing that the US must demonstrate sincerity by canceling punitive trade measures.
“The US needs to show sincerity to talk and be prepared to rectify its wrongdoing and cancel unilateral tariffs,” Yadong stated.
His comments came hours after President Donald Trump reaffirmed his unwillingness to lower levies on China, which currently stand at 145% for most goods.
High-Stakes Negotiations Amid Economic Strains
Both sides are asserting firm positions ahead of the first formal trade talks, scheduled to take place in Switzerland from May 9 to 12.
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet Chinese Vice Premier He Lifeng, marking the first direct discussions since tariff tensions escalated.
- Despite ongoing disputes, the announcement of negotiations has sparked cautious optimism that a resolution could be reached before economic damage intensifies.
- Both countries are under pressure to strike a deal, as the US economy contracted for the first time since 2022, while China’s factory activity fell into its steepest decline since December 2023.
At a separate briefing, China’s Foreign Ministry spokesman Lin Jian emphasized Beijing’s firm stance, stating:
“China’s resolve to safeguard its rights and interests will not change. Our position and objective to uphold international fairness and justice will not change.”
Outlook for Trade Policy Adjustments
Since his return to office, President Trump has imposed new import taxes on Chinese goods, reaching 145%, while Beijing has retaliated with 125% levies on certain US exports.
The looming negotiations could reshape the global trade landscape, though significant hurdles remain before tariff adjustments can be finalized.
As discussions unfold, market analysts and global investors are closely monitoring potential breakthroughs, with trade decisions expected to impact economic stability and supply chain flows in the months ahead.
What you should know
Chinese state media recently reported that Beijing had decided to engage with the US after fully considering global expectations, the country’s interests, and appeals from American businesses.
- The report added that China is open to talks but reiterated that if the country decides to continue to fight this trade war – it will fight to the end.
- The trade war has triggered turmoil in financial markets and sent shockwaves across global trade.
Financial markets in mainland China and Hong Kong rose on Wednesday as investors reacted to the news, as well as announcements by Chinese authorities of measures to support the economy.
